INJ, SUSHI, ANKR, SNT, SLP On-Chain Metrics Flag Bullish: Report

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INJ, SUSHI, ANKR, SNT, SLP On-Chain Metrics Flag Bullish: Report
  • Santiment revealed in an X post that INJ, SNT, ANKR, SLP and SUSHI have recorded bullish increases in their on-chain metrics.
  • At press time, CoinMarketCap indicated that all of these cryptocurrencies suffered substantial 24-hour losses.
  • SNT was the biggest loser throughout the past day of trading as its price dropped 12+% to trade at $0.05064.

Santiment, a behavior analytics platform for cryptocurrencies, revealed on X today that on-chain activity for multiple cryptocurrencies experienced spikes in key metrics that have historically been associated with bullishness. According to the post, Injective (INJ), Status (SNT), SushiSwap (SUSHI), Ankr (ANKR), and Smooth Love Potion (SLP) all experienced bullish spikes.

The spikes in these on-chain metrics come after all of these cryptocurrencies recorded substantial losses throughout the past day of trading, according to CoinMarketCap. The biggest loser amongst these digital assets was SNT, as it suffered a 12+% drop in price over the past 24 hours.

Daily chart for SNT/USDT (Source: TradingView)

As a result of its price drop, the altcoin was changing hands at $0.05064 at press time. Along with the decrease in price over the past 24 hours, SNT also recorded a 54.50% drop in its 24-hour trading volume. Subsequently, SNT’s total volume stood at $197,255,757.

SLP experienced the next biggest 24-hour loss in the list of cryptocurrencies named in Santiment’s post. CoinMarketCap data indicated that the altcoin was down 7.84% at press time, which resulted in its price standing at $0.002376. Meanwhile, SUSHI’s 5.10% drop in price during the past 24 hours meant that it was trading hands at $1.10.

Last but not least, INJ and ANKR both suffered 24-hour losses greater than 3% throughout the past day of trading. Subsequently, INJ was trading hands at $14.15, while ANKR’s price stood at $0.0228 at press time.

The latest drop in these cryptocurrencies’ prices coincided with the decline in the market’s valuation during the same period. According to CoinMarketCap, the global market cap dropped 1.87% over the past 24 hours. As a result, the market cap for the cryptocurrency sector was estimated to be around $1.28 trillion.

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